- Nigeria now has a new online payment platform called Kayi Bank, designed to promote financial inclusion
- This new payment bank is the brainchild of Kano businessman Alhaji Saadina Dantata, with investments from both local and international investors
- Kano Businessman new payment bank will rival OPay, Kuda, moniepoint, and Others for Customer
The Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, has inaugurated a new online payment app called Kayi Bank.
The bank, founded by Kano Businessman and Billionaire Saadna Dantata, was launched in Abuja on Thursday, September 28, 2023.
Legit.ng understands that Kayi Bank is also supported by investors from across Nigeria, the United Arab Emirates (UAE), Saudi Arabia, and Turkey, among others.
Kayi Bank makes promises
Speaking at the event, the founder, Dantata, said that Kayi App is a pioneering fintech solution committed to security, speed, and customer satisfaction.
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"We empower individuals and businesses across Africa, offering seamless transactions in traditional and cryptocurrency. Our mission includes serving the unbanked, the diaspora community, and urban professionals.
“It is powered by Web3 technology, and we ensure stability and speed, targeted at changing the narratives of technology-driven payments platforms in Africa and across the world.
“We are excited to introduce our innovative fintech product, Kayi App, to the Nigerian market. With our dedicated and young team of innovative and creative Nigerians drawn from across the world, we have worked tirelessly to develop a suite of fintech solutions that will make financial transactions simpler, faster, secure, and more convenient for everyone.”
Minister high praise for Kyari
The Minister of Communications, Tijani, praised the founder of Kayi App while stressing that it would add some impetus to President Bola Tinubu's administration's commitment to promote financial inclusion and create jobs and wealth through technological Innovations.
The Nation reports that the Minister also thanked the bank for deciding to accommodate Keke Napep and Taxi drivers in the country with products that enable them to buy fuel at some designated filling stations and make payments the next day as part of measures to cushion the impact of subsidy removal in the transport sector.
MultiChoice, owner of DSTV, launches payment bank to challenge Flutterwave, Opay and others
In a similar report, Legit.ng revealed that MultiChoice Group, the South African media company known for owning DSTV and GOtv, is making a foray into banking service by launching a new payment infrastructure platform called Moment.
In collaboration with investors Rapyd and General Catalyst, MultiChoice aims to revolutionise the payments landscape in Africa by providing businesses with a more accessible, faster, and cost-effective payment infrastructure.
According to a statement by MultiChoice, Moment will consolidate the $3.5 billion in payments processed annually by the company.